Tag: Deutsche Post

EU commission criticizes Deutsche Post's VAT exemption

Posted by | Mar 19, 2008 | |

The EU commission is criticizing Deutsche Post World Net AG’s VAT exemption, Frankfurter Allgemeine Zeitung reported, citing a letter the commission wrote to the German government.

EU commissioner Charlie McCreevy has advised the German government not to hamper the opening of the EU’s mail markets by unfair regulation, it said.

Unlike its German competitors, Deutsche Post is exempted from charging value added taxes on its products in return for the universal service it offers to ensure mail is delivered to remote regions.

The German cabinet is set to decide on tax regulations for the German postal market over the coming days, the report said.

While finance minister Peer Steinbruck of the Social Democrats favours maintaining Deutsche Post’s tax privilege, economy minister Michael Glos from conservative bloc CDU/CSU favours abolishing it.

In addition to the VAT exemption, the government last fall decided to make mandatory for its competitors the minimum wages paid at Deutsche Post.

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Deutsche Postbank CEO calls for speedy sale of bank

Posted by | Mar 17, 2008 | |

Deutsche Postbank AG’s Chief Executive Wolfgang Klein said he wants the German retail bank to be sold by the end of this year, or even sooner, according to an interview in Frankfurter Allgemeine Zeitung.

The newspaper also cited sources close to parent company Deutsche Post World Net AG as saying an investment bank, likely to be Morgan Stanley, will soon be commissioned to find a buyer for the company.

Klein said the bank should be sold to a company that can create the most value in the long term through lifting synergies and boosting market share to 20 pct, according to the newspaper.

‘I know who my favourite partner is,’ Klein said, adding: ‘But first of all I’m not the one selling, and second, I would weaken my position if I said who it is.’ Deutsche Post holds a 50 pct plus one share stake in Postbank.

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Deutsche Post to transfer more outlets to retail partners

Posted by | Mar 16, 2008 | |

Deutsche Post World Net AG plans to have more of its own outlets operated by retail partners such as supermarkets and bakeries, a company spokesman said, confirming an earlier report.

Luebecker Nachrichten earlier reported Deutsche Post will sell by 2011 about 700 of its 800 own outlets.

Most of the outlets affected are small branch offices with one or two workers, the spokesman said, adding the move will not lead to job cuts.

Deutsche Post last year already transferred about 200 of its outlets to partners such as retail stores and lottery ticket sellers.

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Deutsche Post workers threaten strike action

Posted by | Mar 13, 2008 | |

German postal workers could begin industrial action an April 1st warned the services union Verdi.de.

Workers at Deutsche Post are unhappy about working hours and dismissals and have threatened to strike unless the company takes steps to address what they see as ongoing problems inside Germany’s key postal operator.

A recent move by the coalition government to set a minimum wage for postal workers in Germany was challenged by rivals including Dutch operator TNT, and ruled unlawful by a German court.

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